A ramp-up in the pace and scope of tariffs could set the world back to 2008 in terms of global trade levels, the World Bank has warned. In its latest Global Economic Prospects report, published Tuesday, the multinational finance organization had a grim forecast for both emerging and developed markets in the event that the […]
Read moreCentral bankers gathered in Berlin Wednesday confirmed the European Central Bank (ECB) is set to finally discuss the end of its massive bond-buying program — something that its President Mario Draghi has so far refused to do. Speaking at a conference, the ECB’s Chief Economist Peter Praet said the bank will discuss next week how […]
Read moreInternational Paper confirmed on Tuesday that it will not make an offer for Irish packaging company Smurfit Kappa, because of lack of engagement from Smurfit’s management. “IP believes the revised proposal was highly attractive and formed a sound basis for engagement, which the company viewed as essential to determining the full value potential of the […]
Read moreRussian President Vladimir Putin praised his counterpart in the U.S., saying that a decision by President Donald Trump to set up a meeting with North Korea is “brave and mature.” Putin said he is expecting a “positive outcome” from the meeting between Trump and North Korean leader Kim Jong Un, due to take place in […]
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Man-made risks could cost global cities $320 billion a year, survey shows
Man-made threats including market crashes, cybercrime and interstate conflicts are a bigger threat to economic output than natural disasters, according to a new survey from insurer Lloyd’s. These risks have an estimated annual impact of $320 billion of global gross domestic product (GDP) for the 279 cities in the survey. The insurance giant said they […]
Read moreMalaysian Prime Minister Mahathir Mohamad said on Wednesday he has accepted the resignation of central bank governor Muhammad Ibrahim, but no decision has been made on a successor. “We have not decided on his successor because we need to have the approval of the Agong before we can announce,” Mahathir told a news conference, referring […]
Read moreGuatemalan authorities warned that the Fuego volcano was showing signs of greater activity on Tuesday night as the death toll from a devastating eruption at the weekend climbed to 75 and nearly 200 people remained missing. The seismological, volcanic and meteorological institute Insivumeh heightened its warnings after the volcano erupted again earlier on Tuesday, forcing […]
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Macron says calls with Trump like sausages: better not know what's inside
French President Emmanuel Macron said on Tuesday his phone calls with U.S. President Donald Trump and other world leaders were just like sausages: better not explain what’s inside. During a news conference with Israeli Prime Minister Benjamin Netanyahu, Macron was asked about a CNN report on Monday saying that a phone call between the French […]
Read moreAmong the countries that the U.S. has taken issue with, China has stood out for knowing how to handle President Donald Trump’s administration to avoid worsening conflict, former Indian central bank governor Raghuram Rajan said Tuesday. In fact, Rajan said at the Nomura Investment Forum in Singapore, it’s the pragmatism on the part of the […]
Read moreThe House of Mouse has been around for more than 9 decades, and the company is currently under pressure as other media conglomerates look to disrupt its empire. However, Disney is bullish on South Asia as plans for its streaming business are underway. “We have seen fairly seismic changes in technology over the last nine […]
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